MSCF Speaker Series

Drawing from both the buy-side and sell-side, the MSCF Speaker Series offers the MSCF students timely and relevant presentations within an industry known for its fast-paced, dynamic changes.

The MSCF Speaker Series provides a useful perspective for our students, not only with respect to applications of quantitative finance in the financial services industry (and an inside look at specific companies), but also regarding different career paths and areas of current research at some of the most prominent investment banks. Speakers usually present over lunch on Friday's, either in the New York or Pittsburgh MSCF campuses.

Adam Lechner is a Managing Director in the Markets Quantitative Analysis (MQA) department at Citi. He manages the Analytical & Risk Tools team within MQA. Adam began his career at Salomon Brothers and has spent his professional career at Citi and predecessor companies. He also worked within Citi's Risk Architecture department and Citi's Internal Audit department. Adam graduated from MIT with an undergraduate degree in Aeronautics & Astronautics.

Jeff Greco, FRM, is a portfolio and risk manager, trading strategy architect, and derivatives modeling educator. He is the leading provider of risk management services to the retirement investment industry, and a faculty member at the University of Chicago’s Graduate Program on Financial Mathematics. Jeff has been working as a quantitative finance professional since 1995 at Citadel, Deutsche, Bank of America Merrill Lynch and Morgan Stanley. He has taught on fixed income derivatives at the University of Chicago since 2002. Jeff received a Master of Science in Applied Mathematics from the University of Chicago and a Master of Science in Mathematics from Carnegie Mellon University.

November 7, 2014 (From New York)
Dr. Sam Priyadarshi - Vanguard
Head of Fixed Income Derivatives
"The Changing World of Fixed Income Derivatives"

Dr. Sam Priyadarshi is Head of Fixed Income Derivatives at Vanguard and leads a team responsible for derivatives trading for all fixed income funds. His team is also responsible for portfolio risk management of active fixed income funds totaling over $130 billion. He manages the research and execution of derivatives overlay strategies for active fixed income funds. Dr. Priyadarshi holds a Bachelor of Science in Mechanical Engineering from Birla Institute of Technology, Ranchi. He holds an MBA from the Indian Institute of Management, Calcutta, and has a Ph.D. in finance from Virginia Tech.

Maxence Hardy is a Vice President of Linear Quantitative Research at J.P. Morgan where he is Americas Head of Algorithmic Trading Strategies for Cash Equities and Futures. His main focus is agency algorithms development and best execution. Prior to J.P. Morgan, he worked as a Quantitative Analyst at Societe Generale in the Program Trading department. Maxence has a Master of Science in Quantitative Finance from Paris IX Dauphine, and a Master of Science from the National Institute of Telecommunications of France.

Soma Rao is the Model Risk Officer for J.P. Morgan Asset Management (AM) and Consumer and Community Banking (CCB) businesses. Soma leads a team of quantitative professionals responsible for the review, approval and governance of the investment, risk, finance and other models used in global asset management and consumer banking. Previously, Soma was the head of fixed income, currencies and commodities for Europe, Middle East and Africa (EMEA) at J.P. Morgan Private Bank in London. Before joining J.P. Morgan, Soma was a managing director with Citigroup, heading a multi-asset structured products sales team within the Citi Corporate and Investment Bank. He also held positions at Citi as head of global wealth management foreign exchange business and as head of the institutional currency option sales team. Soma also worked at HSBC (Republic Bank) and Mellon Bank in trading positions in fixed income and foreign exchange. Soma is a Chartered Financial Analyst (CFA) charter holder and a certified Financial Risk Manager (FRM®). Soma has an MBA from the Tepper School of Business at Carnegie Mellon University and a Master of Science in Mechanical Engineering from the University of Pittsburgh.

Alexey Kuptsov earned his Ph.D. in Probability Theory from New York University’s Courant Institute in 2008. Following a short time with Lehman Brothers, Alexey joined J.P. Morgan in 2009 as a desk quant in US Rates Exotics. He has since moved within the J.P. Morgan quant research team to the Emerging Markets desk with emphasis on rates and FX modeling. Alexey teaches in New York University's Masters of Financial Mathematics program.

Dr. Cheng Shao is Head of Trading for CITIC Securities International USA, a wholly-owned subsidiary of CITIC Securities, one of China's largest investment banks. CITIC Securities International USA provides brokerage services of Hong Kong and Asian securities to US institutional clients. Prior to CITIC, Cheng worked at various hedge funds including SAC Capital, Access Global Partners and Argonaut. He holds a Ph.D. from Maryland University, and a Master of Science and Bachelor of Science from Tsinghua University.

Alex Maia is the Head of Interest Rate and FX Structuring, Americas, at BNP Paribas where he oversees structured products deals, corporate solutions and accounting solutions. Before joining the bank in 2012, Alex was a Managing Director at RBS, where he held several positions including Co-Head of Latin America Banking and Markets. Prior to this, Alex was a Managing Director at Lehman Brothers and Head of Latin America Origination and Distribution. Alex started his career at Morgan Stanley, and holds a Bachelor of Science in Business Studies from Cass Business School as well as a Master of Science in Accounting and Finance from the London School of Economics.

Carl Mahler joined Gelber Group as a discretionary trader in 2004. In 2005, Carl moved to the software side of the trading industry where he developed tools and strategies for other discretionary traders. In 2009, Carl built a team which assumed responsibility for infrastructure applications and services development, becoming Gelber's first purely algorithmic trading group in 2010. Carl presently leads a team of 25 software engineers, traders and researchers, overseeing all aspects of Gelber's automated trading business, from idea conception and research to implementation, deployment and operation. Carl earned his Master of Science in Electrical Engineering and Computer Science from MIT in 2004.

September 5, 2014 (From New York)
Dongsheng Lu - Bank of New York Mellon
Managing Director, Head of Quantitative Research Derivatives Trading
"Complex Pricing Issues Faced by Today's Traders"

Dongsheng Lu is Managing Director, Head of Quantitative Research at Bank of New York Mellon where he oversees a team developing financial analytics for derivative modeling/pricing, risk management, Credit Value Adjustment (CVA), Funding Value Adjustment (FVA), trading/hedging strategies, option market making and optimal execution. Dongsheng joined the bank in 1998. He earned a Bachelor of Science in Materials Science and Engineering from the University of Science and Technology of China in 1991 and his Ph.D. in Chemical Physics from Ohio State in 1996.

2013 – 2014

December 6, 2013 (From Pittsburgh)
Todd Simkin - Susquehanna International Group
Associate Director
"Poker as a Proxy for Trading"

Todd Simkin holds a BA from the University of Virginia and an MBA from Wharton. He has worked at SIG since graduating from the University of Virginia. He started as an assistant trader, then traded equity options on the PHLX. He moved to Europe where he traded American Depositary Receipts, cross-border merger arbitrage, German rights offerings, and other quantitatively-priced products. He moved back to the US to transition from trading to business management, where he oversaw business development, recruiting, firm-wide compensation, and personnel moves within trading. For a period of time in 2008 and 2009, he ran SIG's Fixed Income desk, but has since moved back to broad business management. Currently, Todd is co-head of Education and Trader Development, as well as the head of SIG's Quantitative Research recruiting.

November 22, 2013 (From NY)Vladimir Sankovich - Royal Bank of Canada Capital Markets
Managing Director, Global Head of Flow Interest Rates and Credit Quantitative Research
"What Does It Mean To Be A Quant?"

Vladimir Sankovich is Managing Director, Global Head of Flow Interest Rates and Credit Quantitative Research at Royal Bank of Canada Capital Markets where he oversees a team developing financial analytics for global Rates, Municipals, Inflation, Credit Derivatives, and Cash trading. Vlad has held derivatives research positions at Merrill Lynch and Bear Stearns, beginning his career at Arthur Andersen in their Financial Commodities and Risk Practice. Vlad earned an MS in Electrical Engineering from St. Petersburg University of Electronics and Technology, and a PhD in Theoretical Physics from New York University.

Alex Maia is the Head of Interest Rate and FX Structuring, Americas, at BNP Paribas where he oversees structured products deals, corporate solutions, and accounting solutions. Before joining the bank in 2012, Alex was a Managing Director at RBS, where he held several positions including Co-Head of Latin America Banking and Markets. Prior to this, Alex was a Managing Director at Lehman Brothers and Head of Latin America Origination and Distribution. Alex started his career at Morgan Stanley, and holds a Bachelor of Science degree in Business Studies from Cass Business School as well as a Master of Science degree in Accounting and Finance from the London School of Economics.

Gerhard Seebacher retired this past August as Managing Director and co-head of Global Fixed Income, Currencies and Commodities (FICC) Trading at Bank of America Merrill Lynch. In this role, Seebacher led the trading effort in FICC, one of the main divisions within Global Markets, Bank of America Merrill Lynch’s institutional sales and trading platform and had global responsibility for developing and implementing the long-range strategic and tactical plans for the business. Seebacher also served in several key senior positions in the firm’s trading businesses, including as head of Global Rates, Foreign Exchange and Structured Credit Trading and as head of Global Credit Products. He joined Bank of America in 1995 in London as part of the NationsBank-CRT derivatives business, and relocated to New York in 2001. Seebacher serves on the Board of Directors of the International Swaps and Derivatives Association (ISDA), where he co-chairs the Regulatory Reform Committee and is a member of the Operational Management Group (OMG). He also serves as a Trustee on the Board of Directors of the American Austrian Foundation. Seebacher earned a graduate degree from the University of Economics and Business Administration in Vienna.

Umesh is global head of Corporate Treasury Strats. His team is responsible for building scalable analytics and models to quantify the liquidity, funding and capital risks to the firm. Prior to joining Corporate Treasury, Umesh was global head of Investment Banking and Merchant Banking Division Strats, where his team provided quantitative structuring and analytical advice to Investment Banking clients and helped the divisions manage lending and investment-related risks. He joined Goldman Sachs in 2005 and was named managing director in 2008. Prior to joining the firm, Umesh worked at Morgan Stanley. Umesh earned a BTech in Mechanical and Industrial Engineering from the Indian Institute of Technology, Madras, in 1997 and an MS in Industrial Engineering and Operations Research from the University of Illinois at Urbana Champaign in 1999. He is a CFA charterholder.

Mr. Hotsuki is Chief Risk Officer of Morgan Stanley, a member of the firm's Operating and Management Committee and a Director of Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Mr. Hotsuki joined the firm in March, 2008 as the Head of Market Risk Department and became the Interim Chief Risk Officer in January 2011. He assumed his current role of Chief Risk Officer in May 2011. Mr. Hotsuki began his career at Fuji Bank in 1984, where he worked in the Corporate Finance and Derivatives Trading Divisions. From 1993 to 1999, he worked in Market Risk Management at Bankers Trust based in Tokyo and subsequently in Sydney, where he was a Managing Director and the Head of Market Risk Management Japan/Asia from 1995-1999. Mr. Hotsuki joined Merrill Lynch in 1999 as a Managing Director and the Head of Market Risk Management for the Japan/Asia Pacific Region and was a Senior Vice President and Global Head of Market Risk Management from 2005 to 2007. Mr. Hotsuki holds a Bachelor’s degree in Economics from Hitotsubashi University and a Masters of Science in Industrial Administration from Carnegie Mellon University. Mr. Hotsuki is a member of the Advisory Board for Carnegie Mellon's Computational Finance program.

September 13, 2013 (From NY)
Sanjay Reddy - Citigroup
Managing Director and the Head of the New York Finance Desk
"Repo's and the Shadow Banking System"

Sanjay Reddy is a Managing Director and the Head of the New York Finance Desk at Citigroup, with responsibility for firm funding and matched book repo trading in U.S. Treasuries, Agency MBS and Debentures, Corporates, Emerging Markets, ABS and Municipals. Sanjay joined Salomon Brothers in 1988 after obtaining a BS in Electrical Engineering from Stanford University. He spent three years developing risk management software before joining the department and has served Citigroup in both London and New York.

September 6, 2013 (From Pittsburgh)
Dr. Allan Meltzer - Tepper School of Business
"Regulation and the Rule of Law"

Dr. Meltzer has been a faculty member of Carnegie Mellon since 1957, serving as Acting Dean of the Business School, in the mid 70's. He has earned countless academic and professional awards and is a prolific writer, publishing hundreds of papers and articles. His best known work may be his exhaustive financial history of the United States entitled, A History of the Federal Reserve published in 2002. His most well-known, non-academic efforts may be as Co-founder of the Shadow Open Market Committee in 1973 (and, since 1989, as Chairman), a group of twelve 'shadow governors' that critique Open Market policy actions of the Federal Reserve, considering other policy choices that could lead to better outcomes. Dr. Meltzer has a BA in Economics, from Duke University, and an M.A. and Ph.D. in Economics for the University of California, Los Angeles.

Adam is an anchor for Bloomberg Television, co-hosting "Street Smart," Bloomberg's daily business news program focused on the final hours of trading in the U.S., and "Lunch Money," the network's Noon-hour program covering top news in equities, currencies, bonds, and commodities. Since joining Bloomberg in 2009, he has interviewed numerous high-profile business leaders including former AIG CEO Hank Greenberg, Newmont Mining President and CEO Richard O'Brien, AOL CEO Tim Armstrong, legendary investors Leon Cooperman, Carl Icahn and Tom DeMark. Prior to Bloomberg, Johnson was the founder of TheIndependentTrader.com, a Web site and newsletter service devoted to identifying investing trends and offering stock market commentary for investors. Until 2008, Johnson served as a co-founder and co-portfolio manager at New York-based hedge fund, MLH Capital, LLC. Earlier in his career, Johnson served as a director at ING Furman Selz Asset Management LLC and as a trader at Louis Dreyfus Energy Corporation. He began his career as an analyst at Merrill Lynch Capital Markets. Adam earned a degree in economics from Princeton University.

Seth joined the Federal Reserve Board in Washington D.C. in 1999 as an economist. Throughout his tenure, his primary responsibilities have been providing analysis to support the Federal Open Market Committee in the conduct of monetary policy, especially in the areas of reserve markets, money markets, monetary policy accommodation, and the Federal Reserve’s balance sheet. Seth received his Ph.D. in Economics from Princeton University. In addition to his policy work, Seth has many publications in the fields of money demand, the liquidity effect, and the transmission of monetary policy.

Dr. David Andre is co-founder, CEO and CTO of Cerebellum Capital, a hedge fund whose investment programs are based on a largely automated process for discovering financial trading strategies, evaluating strategies as to the likelihood they will generalize to unseen data, and combining these strategies to optimize the likelihood of significant steady return. David was instrumental in founding and building several companies, including BodyMedia, Inc, Blue Pumpkin Software, and Shinteki. In addition to holding numerous patents for his inventions, he is the author of more than 60 peer-reviewed publications in the areas of statistical machine learning, robotics, reinforcement learning, evolutionary computation, and parallel processing, as well as a book on automatic circuit design. Dr. Andre holds B.S. and B.A. degrees in Symbolic Systems and Psychology from Stanford University and a PhD in Electrical Engineering and Computer Science with a focus in Artificial Intelligence from U.C. Berkeley.

Following five years in the technology sector, Farrah joined North End Options Fund (NEOS energy) in 2005 as a quantitative analyst. In 2010, Farah joined Belvedere Trading LLC, a proprietary trading firm based in Chicago where he works on option pricing models and trading strategies in various products. Farah Haddadin received his undergraduate degree in Electrical Engineering from the University of Illinois at Urbana-Champaign and completed his Masters in Financial Mathematics from the University of Chicago in 2005.

Daniel Nehren is the Global Head of Linear Quantitative Research at J.P. Morgan. LQR is a global quantitative group that focuses on both electronic trading and portfolio and risk analytics for the Equities Division. Prior to joining J.P. Morgan, he was the co-head of the Quantitative Products One group at Deutsche Bank and helped run the QP Lab, a research joint venture between Umbolt University and Technische Universität Berlin. Daniel spent the previous five years in Delta 1 Equity Strategies at Goldman Sachs focused on High Frequency Trading. He holds the title of Doctor in Electronic Engineering from the Politcecnico University in Milan, Italy.

Merrell Hora is the global head of Equity Algorithmic Trading & Quantitative Analytics Products at Barclays Capital. Before joining Barclays he was with Credit Suisse where he was responsible for the quantitative R&D for their algorithmic trading products and then moved into program trading. Prior to that, he worked on quantitative smart order routing and liquidity analytics for Lava Trading. Before that he held multiple positions at Oppenheimer Funds including senior portfolio manager. Dr. Hora has a PhD in economics from the University of Minnesota and a BA from the University of California at San Diego.

September 28, 2012 (From New York)
Dmitry Pugachevsky - Quantifi Inc
Director of Research
"CVA, DVA, FVA – the Good, the Bad and the Ugly"

Dmitry is responsible for managing Quantifi’s global research efforts. Prior to joining Quantifi in 2011, Dmitry spent three years as Managing Director and a head of Counterparty Credit Modeling at JP Morgan. from 2001-208, he was a global head of Credit Analytics of Bear Stearns. Prior to that, he worked for eight years with analytics groups of Bankers Trust and Deutsche Bank. Dr. Pugachevsky received his Ph.D. in applied mathematics from Carnegie Mellon University. He is a frequent speaker at industry conferences and has published several papers and book chapters on modeling counterparty credit risk and pricing derivatives instruments.

Robert Almgren is co-founder of Quantitative Brokers, providing agency algorithmic execution and cost measurement in interest rate markets, and Fellow in the Mathematics in Finance Program at New York University. Until 2008, Dr Almgren was a Managing Director and Head of Quantitative Strategies in the Electronic Trading Services group of Banc of America Securities. From 2000-2005, he was a tenured Associate Professor of Mathematics and Computer Science at the University of Toronto, and Director of its Master of Mathematical Finance program. Before that, he was an Assistant Professor of Mathematics at the University of Chicago and Associate Director of the Program on Financial Mathematics. Dr. Almgren holds a B.S. in Physics and Mathematics from the Massachusetts Institute of Technology, an M.S. in Applied Mathematics from Harvard University and a Ph.D. in Applied and Computational Mathematics from Princeton University. He has an extensive research record in applied mathematics, including papers on optimal trading, transaction cost measurement, and portfolio construction.

Peter Cai is a Managing Director in charge of portfolio risk management at Morgan Stanley. Peter leads a global team aggregating, analyzing and stress testing Morgan Stanley's risk exposures, spanning all of Firm's businesses and operations. Previously Peter was a risk strategist at Lehman Brothers (subsequently Barclays Capital) Fixed Income Division, and also worked at Lehman's corporate trading business as a risk manager. Prior to Lehman Brothers, Peter was the global director of consulting at Askari, a boutique risk solutions firm. Peter holds a Ph.D. degree in materials science from Pennsylvania State University and the FRM (Financial Risk Manager) and PRM (Professional Risk Manager) certifications.

Gregory Tell is a Managing Director and the Head of the Structured Solutions Unit within the Investment Department of MetLife. Mr. Tell joined MetLife in 2008 to lead this unit in working with Portfolio Management and other areas of MetLife to design and source derivative products and other structured assets to meet specific liability objectives as well as using structured products to more efficiently hedge risk. Before joining MetLife, Mr. Tell spent 12 years in various derivative trading and structuring roles at Anchorage Capital, Barclays Capital, Citigroup and Merrill Lynch where he was responsible for managing risk positions in credit derivatives and interest rate and foreign exchange products in both the developed and emerging markets. In addition to his role at MetLife, Mr. Tell lectures part-time at Rutgers University where he is part of the Economics faculty. In the past he has also been a part-time lecturer for Carnegie Mellon as part of the Master of Science in Computational Finance Program. Mr. Tell has an MBA from the MIT Sloan School of Business with a concentration in Financial Engineering and an undergraduate degree in Mathematics and Economics from Rutgers University.

Dr. Anatoly (Alec) Schmidt holds MS and Ph.D. in Physics from Latvian University. He has been working as a quantitative analyst in financial industry since 1997. Currently Dr. Schmidt is with ICAP Electronic Broking and teaches Market Microstructure & Trading at master's program in Financial Engineering of Stevens Institute of Technology. His current research interests include agent-based modeling of financial markets, market microstructure, and algorithmic trading. His experience in these fields is reflected in several publications and two books: "Quantitative finance for physicists: an introduction" (Elsevier, 2004) and "Financial markets and trading: introduction to market microstructure and trading strategies" (Wiley, 2011).

December 9, 2011 (From New York)
Gary Katz – International Securities Exchange
President and Chief Executive Officer
"The International Securities Exchange: A Model of Market Structure Innovation"

Gary Katz is president and chief executive officer of the International Securities Exchange and a co-founder of the options platform now controlled by Eurex. Katz became president and CEO of ISE and a member of its board on Jan. 1, 2008. Katz was previously chief operating officer of the ISE and the ISE Stock Exchange. He is named as inventor or co-inventor on six patents that ISE has received or applied for relating to its proprietary trading system and technology. Before the ISE, Katz was president and co-founder from 1997-1998 of K-Squared Research, LLC, a financial services consulting firm. From 1986 to 1997, Katz served in the options and index products division at the New York Stock Exchange where he became a managing director. Katz was an actuary with the Equitable Life Assurance Company and is an associate of the Society of Actuaries. Katz has taught statistics at New York University and options strategies and pricing at the New York Institute of Finance. He has an M.S. in Statistics with Distinction from New York University and a B.A. from Queens College.

Ravi’s experience over the past two decades spans financial management, restructuring, trading and quantitative risk management of equity, commodity and fixed income financial products and fund investments. Ravi is presently focused on emerging market investments, particularly into Asia, through a newly founded wealth management and advisory business. Prior to this, Ravi was a Managing Director at the UBS Investment Bank in the US where he created a new division to undertake production risk and quantitative model governance initiatives across the bank following the 2008 financial crisis. Before this, Ravi worked for ten years in a range of senior roles at AIG as well as at Sun Life. Ravi started his industry career with a collaborative research project with Morgan Stanley, after getting exposed to Computational Finance at Carnegie Mellon University as a postdoctoral fellow. Ravi graduated from IIT-Kanpur with an integrated master’s degree, and holds a Ph.D. in Statistical Physics. Ravi is also a CFA charter holder.

November 4, 2011 (From New York)
Glen Swindle – Credit Suisse
Managing Director and Head of Power Trading
"Challenges in Managing Energy Portfolios"

Glen Swindle is Managing Director and Head of Power Trading at Credit Suisse, where he was also formerly co-Head of Natural Gas and Power Trading. Previously, he was Managing Director at Constellation Energy, where he managed the strategies group. In addition, Glen has held tenured positions at the University of California, Santa Barbara, and at Cornell University, New York. Glen earned BS in mechanical engineering from Caltech, an MSE in mechanical aerospace engineering from Princeton University and Ph.D. in applied mathematics from Cornell University. Glen is a Member of GARP’s Energy Oversight Committee.

Matthew Cushman is Senior Managing Director at Citadel Investment Group, where he coheads an automated, quantitative trading team. From 2002 to 2100, Cushman was head of the quantitative research team at Knight Capital Group, where he pioneered a systematic, algorithmic approach to market making to provide automated liquidity to the equity markets. He has also taught a course in market microstructure and quantitative trading at Rutgers University. Cushman graduated from Carnegie Mellon University in 1995 with an MS in Mathematics, a BS in Mathematics and Logic and Computation, and a minor in Computer Science. He earned his Ph.D. in Mathematics in 2000 from the University of Chicago.

Philippa Girling is a Managing Director at Morgan Stanley, Operational Risk. Previously, she headed the Banking and Financial Services practice at the law firm Garrity, Graham, Murphy, Garofalo and Flinn, P.C. Prior to that she was Global Co-Head of Operational Risk Management at Nomura. Before joining Nomura, Philippa spent nearly 10 years at Morgan Stanley in several roles including program director of the Operational Risk function and COO of the Global Financial Control Group. Philippa was selected as one of the top fifty faces of operational risk by Operational Risk and Compliance magazine.

John is the Head Trader of Credit Suisse's High-Frequency Electronic Market Making (EMM) Desk in New York. The EMM desk provides liquidity to Credit Suisse clients in Fixed Income products. He joined Credit Suisse in 2010 to build the EMM business. Previously, he worked at Trading Machines, Morgan Stanley, and Citadel Investment group as a quantitative trader and market maker. John holds a Bachelors degree from the US Naval Academy in Electrical Engineering and a Masters in Computational Finance from Carnegie Mellon.

Osman is a member of the research and portfolio management team within GSAM’s Quantitative Investment Strategies (QIS) group where he currently serves as the portfolio manager for the Goldman Sachs Asset Management's "Dynamic Allocation Fund." His focus is on research and portfolio management for the Fund as well as Japanese long-only and long/short equity portfolios. In addition, his responsibilities include researching and implementing optimal portfolio construction techniques. He joined Goldman Sachs in 2003 and joined the QIS group in 2005.

September 23, 2011 (From New York)
Greg Markouizos - Citigroup
Managing Director and Global Head of Fixed Income Finance
“Repos and the Shadow Banking System"

Greg Markouizos oversees fixed Income secured financing for Citigroup in London, both for the firm's own inventory and customer positions. Greg joined Citigroup in 1993 and worked as a repo trader until 1995 when he transferred to the European Government bond desk to trade French Government bonds. At the outset of the Asian crisis in 1997, Greg transferred back to the Finance desk to run risk as the senior trader where he became Head of the European and Asian Finance desk in 2002, a Managing Director in 2003, and Global Head of the business in 2010. Greg holds Bachelors and Masters degrees in Mechanical Engineering from Imperial College in London and an MBA from the Cass Business School.

Professor Meltzer has been a faculty member of Carnegie Mellon since 1957, serving as Acting Dean of the Business School, in the mid 70's. He has earned countless academic and professional awards and is a prolific writer, publishing hundreds of papers and articles. His best known work may be his exhaustive financial history of the United States entitled, A History of the Federal Reserve published in 2002. His most well-known, non-academic efforts may be as co-founder of the Shadow Open Market Committee in 1973 (and, since 1989, as Chairman), a group of twelve shadow governors that critique Open Market policy actions of the Federal Reserve, considering other policy choices that could lead to better outcomes. Professor Meltzer has a BA in Economics from Duke University, and an M.A. and Ph.D. in Economics for the University of California, Los Angeles.

Dmitry Sendersky is part of the Financial Modeling Group within BlackRock Solutions. Dmitry entered the financial modeling field in 2000, joining Kiodex, a start-up delivering commodity risk management services. In 2003, he moved to RiskMetrics where he worked on modeling structured instruments. In 2005, he joined BlackRock, becoming head of Corporate Credit Modeling. Current areas of responsibility are Corporate Credit, Emerging Markets and Structured Finance (CDOs/CLOs). Dmitry has a BS/MS in Applied Math from Kiev Polytechnic Institute, an MS in Math from the University of Cincinnati, and a Ph.D. in Applied Math from SUNY Stony Brook.

Nicholas Brophy is Managing Director for North American Rates Trading at Citigroup. He oversees trading for U.S. Governments, Agencies, mortgage pass through, and interest rate derivatives. Nick joined Citigroup in June 2009 from the Federal Reserve Bank of New York. Nick spent most of his career at Merrill Lynch, from 1996 – 2008, where his responsibilities evolved from interest rate derivatives trading to management. He was named head of options trading in 2002 and became a Managing Director in 2003. In 2006, Nick was named head of derivatives trading and later in 2006 he was promoted to be co-head of rates trading. Nick received his B.A. in Economics from Princeton University in 1994.

December 3, 2010 (From New York)PK Sinha - BNP ParibasDirector of FX Structuring for the Americas"Structural Changes in Structuring"

PK Sinha has run the FX Structuring group for the Americas for almost four years. The Structuring group develops, and helps to market investment solutions for asset managers and FX hedging solutions for liability managers. The client base is primarily institutional accounts and corporations. Prior to working at BNP Paribas, PK traded FX and precious metals options for a European bank for seven years in New York and London. He also spent a few years working as a Metallurgical Engineer for company located in the Pittsburgh area. He holds a Bachelor of Technology, an MS in Metallurgical Engineering and an MSIA.

Matthew Tilove is a Director in Deutsche Bank's Debt Capital Markets group where he is responsible for structuring and marketing interest rate risk management solutions for corporate clients. He joined Deutsche Bank in 2003. Matt holds a BS in Economics and a BA in International Studies from the University of Pennsylvania.

Peter Cai is an Executive Director in charge of portfolio risk management at Morgan Stanley. Peter leads a global team aggregating, analyzing and stress testing Morgan Stanley's risk exposures, spanning all of Firm's businesses and operations. Previously Peter was a risk strategist at Lehman Brothers (subsequently Barclays Capital) Fixed Income Division, and also worked at Lehman’s corporate trading business as a risk manager. Prior to Lehman Brothers, Peter was the global director of consulting at Askari, a boutique risk solutions firm. Peter holds a Ph.D. degree in materials science from Pennsylvania State University. He has FRM (Financial Risk Manager) and PRM (Professional Risk Manager) certifications and has been a CFA (Chartered Financial Analyst) charterholder since 2002.

McKay Hyde leads the Core Quant Strats team at Goldman Sachs. His team works with a wide range of structuring and trading teams globally. McKay joined Goldman Sachs in 2006. Before joining Goldman Sachs, McKay worked in academia, first as an NSF Postdoctoral Fellow in the School of Mathematics at the University of Minnesota, Twin Cities and then as an Assistant Professor of Computational and Applied Mathematics at Rice University. He received his Ph.D. in Applied and Computational Mathematics in 2003 from the California Institute of Technology.

Dr. Nuti runs the algorithmic trading desk within Citadel Securities. The Algorithmic Trading team develops, implements and runs trading strategies in both a market-making and a proprietary setting. The market-making algorithms developed are primarily aimed at inventory management and P&L generation. Within the proprietary trading algorithms, most of the research is aimed at high-frequency strategies, inventory management and flow analysis. Prior to Citadel, Giuseppe ran the Rates Algo Trading desk at Deutsche Bank. Dr. Nuti teaches mathematical finance and algorithmic trading components of the Financial Computing course at University College London and supervises Ph.D. students at both University College London, and the Cass Business School. Dr. Nuti's research interests are in trading probability in exchange driven markets, the interaction between market participants in price-setting microstructure (both in simulated and real life environments, and market-making algorithms within different auction methods.

Ken Coulson is Managing Director in Electronic Volatility Trading at UBS Investment Bank. Ken joined UBS in 2003 to help build the electronic options market-making business. Today the business trades 1000 underlying securities across six options markets with little human intervention. Ken began building trading systems with one of the preeminent model and technology driven trading firms, Hull Trading, in 1998. He has studied and adapted electronic trading systems to major options market structures in Europe and Asia including warrants markets in Italy, Germany, and Switzerland for Hull and Goldman Sachs. At Goldman, Ken traded OTC and Exotic options for Goldman’s institutional and hedge fund clients while integrating these businesses with automated market making. Ken has a BS in Finance from the Leeds School of Business at University of Colorado. Ken is a musician, performing across the country and internationally. He has released five CD's.

Professor Meltzer has been a faculty member of Carnegie Mellon since 1957, serving as Acting Dean of the Business School, in the mid 70's. He has earned countless academic and professional awards and is a prolific writer, publishing hundreds of papers and articles. His best known work may be his exhaustive financial history of the United States entitled, A History of the Federal Reserve published in 2002. His most well-known, non-academic efforts may be as co-founder of the Shadow Open Market Committee in 1973 (and, since 1989, as Chairman), a group of twelve shadow governors that critique Open Market policy actions of the Federal Reserve, considering other policy choices that could lead to better outcomes. Professor Meltzer has a BA in Economics, from Duke University, and an M.A. and Ph.D. in Economics for the University of California, Los Angeles.

Kenneth Abbott is a Managing Director at Morgan Stanley, where he is the Chief Operating Officer for the Market Risk Department. In addition, he also supervises the risk management of the Global Wealth Management and Investment Management businesses. He is also responsible for legal entity risk management for Morgan Stanley's US broker dealer and national bank. In addition, he sits on the investment and valuation committees for the Morgan Stanley Private Equity and Infrastructure funds. Previously, he ran market risk management for Bank of America¹s Investment Bank. He has over 25 years banking experience, including 14 years at Bankers Trust as an analyst, trader, and risk manager. Ken has a BA from Harvard in Economics, an MA from NYU in Economics and an MS from NYU/Stern in Statistics and Operations Research. He is an adjunct faculty member at NYU, Rutgers, and Baruch and sits on the GARP Board of Directors.

Stephen D'Silva is a member of Laurion Capital Management¹s volatility trading team focusing on energy options. From 2008-2009, Stephen worked in the Natural Gas Trading group at RBS Sempra Commodities, where he traded natural gas derivatives. From 2005-2007, Stephen worked at Lehman Brothers in the Quantitative Research Group, moving onto Lehman's natural gas derivatives desk in 2008. Stephen graduated from Carnegie Mellon University in 2005 with a Ph.D. in Mathematics with a concentration in Mathematical Finance.